Nokia Corp (NYSE:NOK) stock is trading higher on Tuesday, driven by sustained artificial intelligence data center demand and a raised full-year profit outlook. Investors are actively re-evaluating the company beyond its traditional telecom focus and pricing it as a key beneficiary of the artificial intelligence boom.
The Nasdaq is down 0.03% while the S&P 500 has gained 0.08%.
• Nokia stock is surging to new heights today. What’s fueling NOK momentum?
Q2 Earnings Beat
In late July, Nokia reported second-quarter results that topped consensus estimates. Net sales rose 8% year-over-year to 4.82 billion euros ($5.60 billion), while adjusted earnings reached eight cents per unit, beating the seven cent expectation. Network Infrastructure revenue grew 12%, propelled by Optical Networks (+19%) and IP Networks (+15%).
AI Infrastructure Growth
CEO Justin Hotard highlighted Nokia’s expanding reach into AI infrastructure. AI and Cloud revenue doubled (+103%) to represent 9.3% of total sales, backed by 2.8 billion euros in new AI and cloud orders.
Supply Chain Strategy
To address memory shortages expected through 2027, Hotard outlined plans to secure long-term supply deals, adjust product designs, and pass higher costs to buyers.
Nokia Stock: Key Technical Levels To Watch
From a longer-term view, Nokia is still digesting a huge 12-month run (up 128.41%), but the more recent trend has been choppy: the stock is trading 2.9% below its 20-day SMA and 22.8% below its 50-day SMA, which indicates the intermediate trend remains pressured. At the same time, it’s sitting just 0.5% above its 200-day SMA, putting the stock right on a key "line in the sand" that often decides whether a pullback becomes a deeper trend break.
- Key Resistance: $10 — Round-number area where rebounds can stall, especially with the stock still below key shorter-term averages.
- Key Support: $8 — Nearby level that lines up with a prior buyer-defense zone if the rebound fails.
NOK Stock Price Activity: Nokia shares were up 3.56% at $9.46 at the time of publication on Tuesday, according to Benzinga Pro data.
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